The Australian share market defied weak offshore leads to open stronger and is 0.2 per cent up at noon, with the healthcare sector leading the way as Primary Health Care stocks see some strong gains in early trade following founder Edmund Bateman’s decision to sell off half of his holding.
The S&P/ASX 200 index is 11 points up at 5,221. On the futures market the SPI is 23 points higher.
Economic news
The Australian Burea of Statistics says personal and commercial finance saw modest rises in March. According to the ABS, total personal lending commitments increased 0.6 per cent to $7.99 billion in the month, while business finance commitment lifted by 1.5 per cent to $29.64 billion.
The three-day RIU Resources Round Up conference kicks off in Sydney today. FNN is covering the event and we spoke earlier to Vertical Events Manager Doug Bowie who detailed some of the events highlights.
Company news
MYOB Finance Australia Limited’s (ASX:MYBG) New Zealand subsidiary will purchase unlisted accounting service BankLink for $113.8 million.
MYOb Finance New Zealand will fund the purchase via $NZ75 million in senior bank debt as well as a shareholder equity funding. Shares in MYOB are trading steady at $96.50.
Macquarie Group Limited
(ASX:MQG) plans to raise $400 million through an offer of capital notes with an issue price of $100 each. CFO Patrick Upfold says the offer is consistent with Macquarie’s strategy to manage its capital mix and maintain a diverse source of funding. Shares in Macquarie are trading up 1.17 per cent at $46.01.
Best and worst performers The best performing sector is Healthcare gaining 170 points to 13,417. Shares in Ansell Limited
(ASX:ANN) have risen 1.54 per cent and trading at $17.15. Shares in CSL Limited
(ASX:CSL) and Sonic Healthcare Limited
(ASX:SHL) are also stronger.
The worst performing sector is Utilities, falling 26 points to 5,708. Shares in SP AusNet
(ASX:SPN) have fallen 0.96 per cent, trading at $1.29. Shares in AGL Energy Limited
(ASX:AGK) are lower while Spark Infrastructure Group
(ASX:SKI) shares are slightly up at noon.
Gold and the dollar
Gold is trading at $US1,441 an ounce and the Australian dollar is buying $US0.9985.
